Crizac Limited has revised its proposed acquisition of a stake in Edument Consultancy Private Limited, lowering the target holding to approximately 36.80% following a partial withdrawal by a seller.

The Kolkata-based company disclosed the update on September 17, 2026, citing that Mr. Chandra Shekhar Sharma, a shareholder of Edument, withdrew his consent to sell his holding of 107 compulsorily convertible preference shares (CCPS).

Transaction Revision Details

Consequently, Crizac will not proceed with the acquisition of these specific shares. The company stated that it has received back the consideration of ₹1,03,654 paid towards these 107 CCPS.

This development reduces the aggregate consideration for the entire transaction from ₹1,24,76,944 to ₹1,23,73,290. The revised deal involves the acquisition of 5,337 CCPS, down from the initially proposed 5,444 CCPS.

Upon completion of the transaction and the subsequent conversion of the acquired securities into equity shares, Crizac expects to hold approximately 36.80% of the fully diluted share capital of Edument.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. It serves as an update to the company's earlier intimation dated June 15, 2026.

Crizac confirmed that except for the aforementioned change regarding the number of shares and consideration amount, there are no other changes to the transaction as previously disclosed.

Crizac Limited shareholders approved the appointment of Christopher Flood Nagle as a non-executive director and the re-appointment of two independent directors at its 15th Annual General Meeting on September 11, 2026.

The meeting, conducted via video conferencing, commenced at 1:00 pm and concluded at 1:51 pm. Company Secretary and Compliance Officer Kashish Arora confirmed the presence of the requisite quorum and noted that all directors were present. The company also adopted its audited standalone and consolidated financial statements for the fiscal year ended March 31, 2026.

Board Appointments

Shareholders approved several key board-level resolutions during the special business segment:

• Appointment of Christopher Flood Nagle (DIN: 11838159) as a Non-Executive, Non-Independent Director via an Ordinary Resolution.
• Re-appointment of Anuj Saraswat (DIN: 08697386) as an Independent Director for a second term of three consecutive years, from February 14, 2027, to February 13, 2030, via a Special Resolution.
• Re-appointment of Payal Bafna (DIN: 09075302) as an Independent Director for a second term of three consecutive years, from March 21, 2027, to March 20, 2030, via a Special Resolution.
• Re-appointment of Manish Agarwal as a Director, who retires by rotation.

Audit and Compliance

The statutory auditor, internal auditor, and secretarial auditor reports contained no qualifications, observations, or adverse remarks. Rakesh Kumar Agrawal, Chairman of the Audit Committee, Nomination and Remuneration Committee, and Stakeholders Relationship Committee, was present in accordance with regulatory requirements.

Governance Updates

Management informed members that the company will not grant any Employee Stock Options under the Crizac Employee Stock Option Plan 2026 at an exercise price below the face value of the equity shares. The Chairman and Managing Director briefed members on the company’s performance and thanked shareholders for their continued trust.

Voting results will be submitted in due course pursuant to Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.